Data from the Vietnam Securities Depository and Clearing Corporation (VSDC) shows that the total number of domestic investor accounts at the end of November 2023 reached 7,252,743 accounts. This figure is 193,045 accounts lower than at the end of October (7,445,544 accounts).

Thus, this is the second consecutive month that the number of domestic investors' securities trading accounts has decreased.

The decrease in the number of securities accounts mainly came from individual investors. In November, the number of securities accounts of domestic individual investors decreased by 193,205 accounts, down to 7,191,502 accounts.

In contrast, domestic organizations still opened 160 new accounts, bringing the total number of accounts to 16,045.

At the same time, foreign investors continued to open 244 new accounts last November, of which individual investors opened 233 new accounts and organizations opened 11 new accounts last month, bringing the total number of foreign investors' securities accounts at the end of November to 45,196 accounts.

"Fake" securities accounts will be wiped out to clean up investor data

Previously in October, the number of announced securities accounts was unexpectedly 377,973 accounts lower than at the end of September.

In the information released later, VSDC said that in October, securities companies closed 545,386 accounts, mainly from MB Securities Joint Stock Company (MBS) with 543,753 accounts.

Through discussions with MBS, VSDC learned that MBS is currently in the process of reviewing the list of accounts opened at this securities company and proactively closing previously opened accounts that have not generated any transactions.

In late September, the Government Office conveyed Deputy Prime Minister Tran Luu Quang's instructions to the State Securities Commission, the Stock Exchanges, and the Vietnam Securities Depository and Clearing Corporation to connect the national population database and the electronic identification and authentication system. The connection aims to clean up data of securities trading participants.

User data cleansing will help to compare user information with the National Population Database to ensure consistency and eliminate incorrect, duplicate or virtual data. This task is required to be completed by November.

Then, on November 24, the State Securities Commission and the Department of Administrative Police for Social Order (C06) signed a Plan to coordinate the implementation of the "Project on Developing the Application of Population Data, Identification and Electronic Authentication to Serve National Digital Transformation in the 2022-2025 Period, with a Vision to 2030" (Project 06).

The plan focuses on implementing 3 main groups of tasks: First is to check and verify information with the national database on population, clean up securities investor data and data of people granted securities practice certificates;

Second, connect and exploit the national population database, electronic identification and authentication system to serve the business activities of the Securities industry;

And the third is the application of citizen identification cards with electronic chips to identify information of stock investors.